TORONTO, ONTARIO--(Marketwire - Dec. 15, 2011) - Bison Gold Resources Inc. ("Bison Gold" or the "Company") (TSX VENTURE:BGE) is pleased to announce that it has entered into an agreement with D&D Securities Inc. (the "Agent") to proceed with a brokered flow-through and non-flow-through private placement offering on a "best efforts" basis. Additionally, Bison Gold is pleased to announce that concurrent to the brokered private placement, the Company intends to proceed with a non-brokered flow-through and non-flow-through private placement offering.

The Company has received conditional approval for the private placement for an aggregate gross proceeds of up to $6,000,000. The Offering consists of the issuance of:

up to 15,000,000 common shares issued on a flow-through basis at a price of $0.20 per flow-through share, for gross proceeds of up to $3,000,000. All common shares issued will be subject to a four-month hold period from the date of closing. Proceeds of the flow-through financing will be used to fund the Company's ongoing exploration programs in the province of Manitoba, with particular emphasis on the Company's Central Manitoba gold property; and

up to 18,750,000 units (the "Units") at a price of $0.16 per Unit, for gross proceeds of up to $3,000,000. Each Unit consists of one common share and one half of one common share purchase warrant ("Warrant"). Each full Warrant entitles the holder to purchase one common share at a price of $0.25 and has an expiry period of two years. All common shares issued will be subject to a four-month hold period. Proceeds of the non-flow-through financing will be used for general working capital purposes.

Bison Gold intends to compensate the Agent at closing with cash commission equal to between 2% and 7% of the gross proceeds raised from the brokered private placements. In connection with the non-brokered flow-through and non-flow-through private placement offerings, the Company may pay finders' fees and may also issue compensation warrants.

The private placement offerings are both subject to the final approval of the TSX Venture Exchange.

About Bison Gold

Bison Gold is a Canadian public company listed on the TSX Venture Exchange. Bison Gold is focused on gold, base metal and rare element exploration with property assets in Manitoba, Canada. Bison Gold's land holdings have historically produced in excess of 200,000 ounces of gold. Further details can be found on Bison Gold's website at www.bisongold.com.

We seek safe harbour.

This news release contains forward-looking statements regarding the timing and content of upcoming programs and may be subject to regulatory approval. Actual results may differ materially from those currently anticipated in such statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.